CIB grants $97mn loan for Wedgeport Wind Farm in Nova Scotia

The Wedgeport Wind project led by Elemental Energy secures $97mn from the Canada Infrastructure Bank to install 12 turbines in southwest Nova Scotia.

Share:

The Canada Infrastructure Bank (CIB) has announced the closing of a $97mn loan to support the development of the Wedgeport Wind project, located in the Municipal District of Argyle, Nova Scotia. This financing supports the construction of 12 turbines with a total capacity of up to 84 megawatts of electricity for the provincial grid.

The project is led by Elemental Energy in partnership with Stevens Wind and the Sipekne’katik First Nation (SFN). The turbines used will be seven-megawatt Nordex models. The development also includes transmission infrastructure to connect the new energy supply to the provincial energy network. The total capacity will provide power to more than 30,000 households and businesses.

Local economic and community involvement

The construction phase is expected to generate up to 85 jobs. Permanent positions are also planned for site operations and maintenance. To carry out the work, the partners selected Mi’kma’ki Municipal Limited Partnership (MMLP), a consortium comprising the economic development agency Wskinjnu’k Mtnm’tanqunuow Agency Limited (WMA) and the Municipal Group of Companies.

WMA represents all thirteen Mi’kmaq communities in Nova Scotia. The agreement includes enhanced Indigenous participation through workforce creation, local development and training opportunities. Construction is already underway, and operations are expected to begin by the end of 2026.

A project aligned with federal energy strategy

The financing is part of CIB’s $10bn Clean Power portfolio, which addresses financing gaps in renewable energy, district energy systems and energy storage. This is the second project supported by CIB alongside Elemental Energy, SFN and Stevens Wind under Nova Scotia’s Rate Based Procurement process.

To date, the CIB has invested over $950mn in seven energy projects in the province. The bank stated that the initiative supports infrastructure development and improves access to affordable energy, in line with regional cost-reduction objectives.

Impact on grid and emissions

According to published estimates, Wedgeport Wind is expected to reduce greenhouse gas emissions by more than 100,000 tonnes annually. Local authorities maintain that this type of project is consistent with efforts to strengthen regional energy security while ensuring long-term production stability.

The project also reflects an ongoing commitment by public institutions to support energy initiatives in partnership with Indigenous communities amid a broader transformation of the national energy mix.

Ecopetrol S.A. finalises the acquisition of Wind Autogeneración from Enel S.A.S., thereby taking over the Windpeshi wind project in Colombia, with a planned capacity of 205 MW, aimed at the Colombian oil group's energy self-consumption.
Oceanic Wind Energy Inc. and Coast Tsimshian Enterprises Ltd. secured an exclusive investigative use permit in the Hecate Strait, paving the way for Canada's first major offshore wind project, targeting capacity of up to 700 MW.
German manufacturer Nordex will supply 13 N163/6.X wind turbines to developer SAB WindTeam for a 91 MW wind farm in Brandenburg, with commissioning scheduled for early 2027 and an extended 20-year service agreement.
EDF is delaying the start-up of the Calvados offshore wind farm by more than two years, citing extended adjustments to a drilling tool vital for installing the sixty-four monopile foundations off Courseulles-sur-Mer.
German company NeXtWind signs historic €1.4 billion debt financing to accelerate expansion and modernisation of its onshore wind farms and reach a total capacity of 3 GW by 2028.
Energy company TGS has won a major high-resolution geophysical imaging contract for offshore wind site characterization in Norway, strengthening its position in this rapidly growing market.
Iberdrola Australia secures crucial approval from Australian authorities to begin metocean studies for its 3GW Aurora Green offshore project off the coast of Victoria, marking a decisive stage in its development.
ENGIE begins full operation of the Red Sea Wind Energy wind farm in Egypt, increasing its capacity to 650 MW, four months ahead of schedule, now powering over one million homes in the region.
Tokyo Gas, through TOWII Renewables, a joint venture with EWII, purchases two onshore wind projects developed by Finnish company Puhuri, totalling 74.4 MW, marking its expansion beyond the Danish market.
The European Investment Bank grants EWE AG historic €450mn financing for the installation of 2,600 km of underground power lines and the upgrade of over 1,100 substations in Lower Saxony.
Japan’s Ministry of Industry and Siemens Gamesa Renewable Energy launch a strategic partnership to develop local offshore wind supply chains and strengthen the country's industrial competitiveness in this energy sector.
Energiekontor AG confirms financial close for the Nartum wind farm, adding 23 megawatts to its owned portfolio and starting the construction phase in the Rotenburg district, Lower Saxony.
Airloom Energy begins construction of a pilot site in Wyoming to test an innovative turbine aimed at enhancing American energy security in the face of anticipated growth in electricity demand.
ACCIONA Energía transfers the San Juan de Marcona wind farm to Luz del Sur S.A.A., a major player in Peru's energy sector, for up to USD 253 million, pending necessary regulatory approvals.
German operator Encavis AG strengthens its portfolio by acquiring two wind farms in Lower Saxony and Saxony, totalling 59 MW, in a transaction with Energiequelle GmbH, thereby expanding its renewable energy assets.
Ocergy officially launches an industrial project aiming to install by 2028 a new-generation floating wind turbine of over 15 MW, in partnership with EnBW, Kyuden Mirai, and TEPCO Renewable Power.
France officially commissions its first floating wind farm, consisting of three turbines with a combined capacity of 25 megawatts, introducing strategic technology in the Mediterranean, vital for national energy goals.
Inaugurated on 20 June, the five-turbine plant of wpd onshore France feeds 18 MW into the grid and unlocks new tax revenue for four Côtes-d’Armor municipalities.
Statkraft refocuses investments on flexible Nordic hydropower and reduces commitments in offshore wind and hydrogen to lower operating costs, amid an uncertain economic environment and pressured profitability.
Suzlon Group receives third consecutive order from AMPIN Energy Transition to supply 170.1 MW of wind turbines for a project in India's Andhra Pradesh state, strengthening their strategic industrial partnership.